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HomeMy WebLinkAboutIR 8835INFORMAL REPORT TO CITY COUNCIL MEMBERS Wx To the Mayor and Members of the City Council NO. 8835 Date: April 17, 2007 Page 1 of 2 SUBJECT: LEASE AGREEMENT WITH THE YMCA OF METROPOLITAN FORT WORTH TO CONSTRUCT AND MANAGE A JOINT USE RECREATIONAL AND COMMUNITY FACILITY AT NORTH PARK This informal report provides background information regarding a proposed agreement between the City of Fort Worth (City) and the YMCA of Metropolitan Fort Worth (YMCA) to allow the YMCA to construct and manage a joint use recreational and community facility. The attached agreement is the result of several months of negotiation between the City and the YMCA to craft a suitable agreement that would allow this project to flourish white protecting the interest of each of the parties. This agreement is scheduled for consideration by City Council at their regularly scheduled meeting on April 24, 2007. History In November 2005, the City, along with the YMCA, secured the services of the Winfield Consulting Group to evaluate the opportunities for a new North Community Center between the YMCA and the City. On April 11, 2006, the consultants presented their findings to the Transportation and Infrastructure City Council Committee. The results of the study indicated that there was sufficient interest among area residents to support a joint use facility at North Park that would be managed by the YMCA. Based on these results and at the direction of the Transportation and Infrastructure Committee, the staff began negotiations with the YMCA to draft an agreement that would promote this strategy. The City and the YMCA agreed to each contribute $2.5 million to the design and construction of the facility. City funds are included in the 2004 bond program. It was agreed that the YMCA would operate and manage the facility upon completion. The Parks and Community Services Advisory Board endorsed this collaboration at their April 18, 2006 meeting and directed staff to proceed with drafting the agreement. The Agreement Major terms of the agreement include a primary term of twenty (20) years, as well as two ten (10) year renewal options for a potential combined term of 40 years. The total budget for the facility is estimated at $5 million with each entity contributing equally. The facility will be operated and managed by the YMCA under a strict set of guidelines developed by the City. The building itself will be the property of the City. The City will contribute $60,000, as a start up measure, to provide the YMCA time to generate sufficient memberships to support the facility. If at the end of the first quarter of operation, the YMCA has not reached sufficient memberships to offset the operating cost, the City will allocate a final $60,000. These contributions are contingent on budget approval in FY 2008 -09 for the Parks and Community Services Department. The highest projected cost to the City for start up funds is $120,000 compared to $250,000 to $300,000 in annual operating cost if the City were to operate the facility. ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS INFORMAL REPORT TO CITY COUNCIL MEMBERS NO. 8835 Date: April 17, 2007 To the Mayor and Members of the'City Council �w Page 2 of 2 SUBJECT: LEASE AGREEMENT WITH THE YMCA OF METROPOLITAN FORT �a WORTH TO CONSTRUCT AND MANAGE A JOINT USE RECREATIONAL AND COMMUNITY FACILITY AT NORTH PARK Should the YMCA fail to meet the terms of the agreement and be unable to remedy its default, the City has the right to terminate the agreement. Depending on the nature of the default, the City may have a reimbursement obligation to the YMCA for their investment. The Agreement provides that the City has no duty to reimburse the YMCA if: 1.) the YMCA fails to use the building as a community center 2.) the YMCA makes a transfer in fraud of creditors or makes an assignment for the benefit of creditors or 3.) the YMCA vacates any portion of the building longer than thirty (30) days. However, if the City terminates the Agreement due to the YMCA's failure to otherwise perform, the Agreement provides that the City will reimburse the YMCA the balance of its loan for design and construction or the depreciated value based on the current Internal Revenue Services Rules and Regulations which show the building fully depreciated after thirty nine (39) years, whichever is greater (See attached schedule — exhibit C of the contract.) The Board of the YMCA reviewed the agreement at their February 22, 2007 meeting and took action to authorize their Executive Committee to execute the agreement. The Executive Committee voted in favor of executing the contract at their April 12, 2007 meeting. Schedule Upon execution of the agreement, design will begin immediately with construction to begin November of 2007. Based on a twelve month construction schedule, the facility would open in the fall of 2008. This schedule coincides with the City Council approved implementation plan for the 2004 Capital Improvement Program. There will be a short presentation at the April 17, 2007 Pre - Council meeting highlighting the terms of the agreement. If you have any questions concerning this agreement, please contact Melody Mitchell, Acting Director of the Parks and Community Services Department at 817 - 871 -5704. Charles R. swell City Manager Attachment is _qi iFn RY THE CITY MANAGER FORT WORTH, TEXAS LEASE AGREEMENT WITH YMCA OF METROPOLITAN FORT WORTH THIS AGREEMENT (hereinafter referred to as "Agreement") is made and entered into by and between the CITY OF FORT WORTH, a home rule municipal corporation of the State of Texas located within Tarrant, Denton, Parker and Wise Counties, Texas (hereinafter referred to as the "City"), acting herein by and through Libby Watson, its duly authorized Assistant City Manager, and the YMCA of Metropolitan Fort Worth, a Texas nonprofit corporation (hereinafter referred to as the YMCA), acting by and through its officers duly authorized by its Board of Directors. URNI� WHEREAS, in order to serve its citizens of the City with a Facility for recreation, meeting space and other traditional and progressive recreational and community service programs, the City desires to participate in the construction of a joint use facility ("Facility") with the YMCA, a non-profit organization whose goals and objectives align with the goals and objectives of the City's Parks and Community Services Department; and OAMR WHEREAS, the Facility is planned to be constructed on City -owned park . property known as North Park and located at the intersection of Beach Street and Shiver Road; and WHEREAS, the City has recognized the long experience and expertise of the YMCA in conducting programs for families at its branches in Tarrant County providing recreational and character-building programs for adults and youth; and WHEREAS, the residents of the City will derive substantial. benefits from the activities and programs to be provided and conducted • the YMCA for YMCA members and program participants at the joint use facility and, through reciprocal membership privileges, at other YMCA's in the Fort Worth area and nationally where Fort Worth members work or travel; and NOW THERFFORE, in consideration of the covenants and agreernents cunwnedl in tuhis Ag-memineuna, the City and the Y�N,11CA hereby agTe as fbIlows: NOPT14 PARKIFACIRAMN YMCA 'Page ! ARTICLE 1. LEASE OF LEASED PREMISES 4,1111-1 1.01 Leased Premises. In consideration of the mutual terms and covenants of this Agreement, and other good and valuable consideration, City demises and leases to YMCA, and YMCA leases from City, (a) a 20 acre tract of land, more or less, known as a portion of 'North Park" located at the intersection of Beach Street and Shiver Road and its appurtenances situated in Fort Worth, Tarrant County, Texas, as legally described on Exhibit "A" attached to this Agreement (the "Land"), and (b) any buildings and improvements on the Land or to be constructed on the Land (the "Facility"). The Land and Facility are collectively referred to as the "Leased Premises". This Agreement is subject to all existing easements for public roads, channels, highways, public utilities, railroads, pipelines and electrical transmission lines. 1.02 Survey of Leased Premises. The parties acknowledge that the City, at its sole cost and expense, is preparing a new survey of the Land ("Survey"); however, such Survey was not complete in time for the execution of this Agreement. Once the Survey is completed and approval by the City and the YMCA, the legal description on the approved Survey will become the Exhibit "A" under this Agreement in place of the Exhibit "A" used at the time this Agreement was executed. The parties agree to execute an amendment confirming the substituted legal description within thirty (30) days after the Survey is approved by the City and the YMCA. The City agrees that the Survey will be completed and submitted to the YMCA within 30 days after the execution of this Agreement. ARTICLE 2. LEASE TERM PAAK FACLU NNICA Page 2 2.04 If at the time of any renewal of this Agreement the YMCA is in default and has received notice of such default from the City in accordance with Section 12.02 and the cure period allowed under Section 12.02 has not expired, then such renewal will not be effective unless such default is cured by the YMCA within the allowed cure period. However, in the interim, the current term of this Agreement will be automatically extended until the expiration of the cure period. If the YMCA cures the default within the cure period, the renewal will become effective and be retroactive to the date that the Agreement would otherwise have been renewed. If the YMCA fails to complete the cure within the cure period, then the City may deny the renewal and this Agreement shall terminate. 2.05 Holdover Tenancy. Unless terminated earlier by either party pursuant to a right hereunder, this Agreement will expire without further notice when the Term expires. Any holding over by YMCA after the Term expires will not constitute a renewal of the Agreement or give YMCA any rights under the Agreement in or to the Leased Premises, except as a tenant at will. ARTICLE 3. USE OF LEASED PREMISES/OWNERSHIP OF PROPERTY County of Tarrant, or the City of Fort Worth, or other lawful authority with jurisdiction over the Leased Premises. 3.03 Condition of Leased Premises. YMCA accepts the Leased Premises in their present condition, finds them suitable for the purposes intended, and further acknowledges that it is thoroughly familiar with such condition by reason of a personal inspection and does not rely on any representations by City as to the condition of the Leased Premises or their suitability for the purposes intended. YMCA accepts the property herein described subject to all previous recorded easements, if any, that may have been granted on, along, over, under or across said property, and releases City from any and all damages, claims for damages, loss or liabilities that may be caused to all invitees, licensees, or trespassers by reason of the exercise of such rights or privileges granted in said easements. 3.04 Zoning, Restrictions and other laws. The Leased Premises are subject to any statement of facts which an accurate survey or physical inspection might show, all zoning, restrictions, regulations, rulings and ordinances, building restrictions, and other laws and restrictions now in effect or hereafter adopted by any governmental authority having jurisdiction. 3.05 Membership Fees. When deemed necessary by the Metropolitan Board of Directors of the YMCA to defray costs of special activities, fees may be imposed for participation in programs and activities conducted by the YMCA at or from the Facility. Fees for memberships and programs shall be priced in accordance with fees established by the YMCA for branches of similar size and amenities located in the City of Fort Worth and consistent with the YMCA's goal to permit participation by all socio- economic groups. All membership fees to Fort Worth residents using the Facility shall be discounted by an amount no less than ten percent (10%) of the then current membership fees solely for the Facility. No discounts shall apply for any "Metro" (meaning herein multiple facility) membership fees or membership fees for other YMCA locations. 3.07 _in ly inspections of the Facility to ., spectiongs, The City shall conduct mon& in-sure thst fire, safetry &nd sarnittat! L), .0, TeV ,,Ilations and t er .roe ; ions contained here hl or df h iN Tbe City shall, n d 4CA of v the YMCA, d e t1it City Oode are !b-zing r0 tier ed to b, in �40R3 H PARK FACILIM YNCA Net 4 its findings, specifying any items needing attention. Failure to conduct any montIM inspections shall not operate as a waiver • the City's right to conduct such inspections and shall not be considered a default of the terms of this Agreement. 3.08 Fire Code Inspections. YMCA will permit the City's Fire Marshal or his or her authorized agents to inspect the Leased Premises and YMCA and City will comply with all requirements of the Fire Marshal or his or her authorized agents that are necessary to bring the Leased Premises into compliance with the City of Fort Worth Fire Code and Building Code provisions regarding fire safety, as such provisions exist or may hereafter be amended subject to the City's maintenance and repair obligations under Paragraph 3.12 (a) below. YMCA shall maintain in proper condition accessible fire extinguishers of a number and type approved by the Fire Marshal or his or her authorized agents for the particular hazard involved. 3.09 Ownership of Equipment and Furniture. No City funds shall be used to acquire equipment and furniture to be used by the YMCA. The YMCA shall own all equipment and furniture purchased by it. The YMCA, at its sole cost and expense shall be responsible for repair and/or replacement of said furniture and equipment during the term of the Agreement. 3.10 Ownership of Building and Fixtures. City shall own the Facility and all fixtures attached thereto. The Facility and any other buildings, improvements, additions, alterations, and fixtures (except furniture, movable equipment, and trade fixtures) constructed, placed, or maintained on any part of the Leased Premises during the Term are considered part of the real property of the Leased Premises and must remain on the Leased Premises and title to all permanent improvements on the Leased Premises shall vest in the City. 3,12 Y-m `W _)P ' , PA 9 Pop. XY (a) City Obligations. Except for repairs required by YMCA under (b) below, the City will at all times during the Term, keep and maintain, or cause to be kept and maintained, the Leased Premises, including the Facility and all other buildings and improvements erected on the Leased Premises, in good state of appearance and repair (except for reasonable wear and tear) —at the City's sole expense including, without limitation, the structure, roof, foundation, HVAC, electrical, plumbing and other systems and the parking area. Such maintenance and repairs will be made expeditiously and in the same manner as a person generally proficient in that industry or trade performing under similar circumstances. After City receives notice of needed repairs pursuant to (b) below, the City shall within forty-eight (48) hours of notification inspect the Facility to determine the extent of repair required. The City shall complete the repairs within ninety (90) days=frorn the date of such notice. Needed repairs as used in this subsection exclude obligations of the YMCA in (b) below. (b) YMCA Obligati . At all times during the Term, the YMCA shall, at its sole cost and expense, make all regular and ordinary minor nonstructural building maintenance and repairs such as painting, wallpaper, tile, flooring, and window glass replacement. Such repairs will be made in an expeditious and proper manner Further, the YMCA shall be responsible for keeping any landscaping, including any irrigation system, around the Facility in a neat, tidy and working condition, with adequate watering and maintenance, and replacing landscaping, including all growth of weeds and other objectionable vegetation on said property from, reaching such conditions as to violate governmental requirements, if any, or to be hazardous and/or objectionable to the City or the YMCA. Collection and proper disposal of trash, garbage, litter and debris will be the responsibility of YMCA, at its sole cost and expense. YMCA shall neither commit nor allow to be committed any waste on the Leased Premises, nor shall YMCA maintain, commit or permit the maintenance or commission of any nuisance on the Leased Premises or use the Leased Premises for any unlawful purpose. Upon discovery of any condition that requires the City to make needed repairs under (a) above, the YM_CA shall notify the City of the defect or condition. (i) If the City receives the reeqtdred notice arid does not perform as required in (a) , the YMCA may undertake the necessary repair and the City shall be responsible to reimburse the 'YMCA -.thin thirty (30) days the reasonable costs of the repairs; or (ii) If the YMCA is unable to reach the City's contact person or the Cit,y does not respond within 48 hours of notification by the YMCA, &e ; CA may tmdertA-e the necessary repair and the City shall be rest Bible to reeimburse dhe Y CA -vv-;thin thirty (30-, dayrs dhe rewsona-We ctmts of One repairs, AM mCWTH FAFK FACILITY YMCA part 6 cgm (i) If the YMCA and City mutually agree that emergency repairs need to be undertaken immediately, the YMCA may undertake the necessary repair and the City shall be responsible to reimburse the YMCA within thirty (30) days. (ii) If the YMCA is unable to reach the City's contact person and action is necessary to prevent further damage to the Facility or to prevent imminent danger or injury to persons, the YMCA may undertake the necessary repairs to cure the unsafe condition and the City shall be responsible to reimburse the YMCA within thirty (30) days the reasonable cost of the repairs. rfllyldreffmrm�� 4.01 Rent. Upon the execution of this Agreement and as a condition of the commencement of the Term, YMCA, shall pay the entire lease rental due under this Agreement for the Primary Term=in one lump sum payment of Twenty Dollars ($20.00), representing the sum of One and No/ 100 Dollars ($1.00) per annum as lease rental during the Primary Tenn If the YMCA exercises any renewal term, payment of the entire lease rental due under this Agreement for such renewal term shall be made in one lump payment of Ten Dollars ($10.00), representing the sum of One and No/100 Dollars ($1.00) per annum as lease rental during the First Renewal Term or Second Renewal Term, as applicable, and shall be a condition of the commencement of any such renewal terms. The parties agree that all consideration detailed in this Agreement fairly compensates City for the lease granted by City and City acknowledges receipt and acceptance • this consideration. Payment of the lump sum rental payments described above shall be made at the administrative offices of the City of Fort Worth Parks and Community Services Department located at 4200 South. Freeway, S, Fort Worth, Texas. ARTICLE 5. CONSTRUCTIONOF THE FACILITY 5.01 General Conditions. City and YMCA agree that Y-N---ICA will award the contract for construction of the Facility, subject to the following: a. Prior to the YICA making an award of contract for the consmction of Che Facility. the Y-MICA shall provide suffif-cient docurnen tat ion to the City NORI-H PARK FACILITY IMM A Map 7 to evidence that the YMCA has sufficient funds available to meet its obligations under this Agreement. b. The City and YMCA agree that the YMCA will construct the Facility for the joint use of the YMCA and the City in accordance with a set of plans and specifications pre-approved by the City and the YMCA prior to beginning any construction. The YMCA agrees to construct the Facility in compliance with all current building codes and guidelines and will not occupy the Facility until the City issues a certificate of occupancy. C. The total cost for the design and construction of the Facility and necessary furnishings and equipment is anticipated to be Five Million Dollars ($5,000,000), exclusive of any costs associated with the City's public art plan, which shall be the sole responsibility of the City, but inclusive of any costs incurred in order to comply with City of Fort Worth Ordinance No. 17228. The City and the YMCA shall each furnish funds equally in an amount of Two Million and Five Hundred Thousand ($2,500,000) Dollars for the design and construction of the Facility and necessary furnishings and equipment, again exclusive of any costs associated with the City's public art plan. The total cost of the Facility to the City shall not exceed $2,500,000 and City funds shall only be used for the construction of the Facility. YMCA funds shall be used for the design, construction and necessary furnishings and equipment, but YMCA funds shall be used to fund the remaining costs of construction only after the City's funds are exhausted. If the parties are unable to agree on plans for the Facility so that the total cost of the design and construction for the Facility will be equal to or less than Four Million Six Hundred Thousand ($4,600,000) Dollars, exclusive of art, either party may terminate this Agreement in accordance with Section 5.04c. NORTH PARK FACIBITY NINACA PIP I , a f Other than stated in c. and d. above, City shall not be responsible for the cost of any construction work for the Facility, including, but not limited to, any necessary permits, licenses, taxes incurred or required or the extension or connection to water/wastewater utilities including impact fees, tap fees or other associated fees in connection with this Agreement. g. Y The Leased Premises and the Facility must at all times be kept free of mechanics and materialmen's liens. YMCA shall indemnify City against any and all mechanic and materialmen's liens or any other type of claims or liens imposed upon the Leased Premises arising as a result of its conduct or inactivity. h. YMCA shall require its contractors to provide performance and payment bonds covering any such work, in form acceptable to the City Attorney, as required by Chapter 2253, Texas Government Code. i. The YMCA shall comply with the requirements of Chapter 252 or Chapter 271, Subchapter H, Texas Local Government Code, in awarding any construction contracts for the Facility. j. The YMCA shall require its contractor(s) to comply with the requirements of City Ordinance No. 15530 and the City's established goal for the construction portion of this Agreement regarding the participation of minority and woman owned businesses. k. YMCA shall notify City at least 7 days prior to beginning construction of the Facility. M. YMCA shall require its design consultant to comply with all provisions of the Americans with Disabilities Act of 1990, Public Law 101-336, 42 United States Code 12101 et see,71. anil all applicalble Texas. Accessibility -,ve &nu4 that - A le it owocup es fhe Re-quirer—nex-Ats (colle i -ti M p NOW P A R K F ACELM Y "W"A , C Page 9 Facility the YMCA will comply with all applicable provisions of the Act. t The Facility will be constructed in order to comply with the Act within the 16, established construction budget. During construction of the facility and prior to acceptance, the City and YMCA shall share equally in the cost of improvements required for the Facility to comply with the Act; provided, however, that this provision shall not operate to increase the City's funding obligations contained in this Agreement. n. Following construction and acceptance of the Facility, City, at its sole cost and expense, shall make any renovations required for the Leased Premises to comply with all applicable provisions of the Act. 5.02 Permits. YMCA, at its sole cost and expense, shall be responsible for the cost of obtaining any necessary permits, licenses or payment of taxes incurred or required in connection with this Agreement. 5.03 Beizinniny, Construction. YMCA shall begin construction no later than six (6) months from the date the City and the YMCA approve the plans. The City may terminate this Agreement upon thirty (30) days prior written notice if construction is not commenced within such time. YMCA may reasonably delay commencement of construction due to delays caused by the City, such delay not to exceed thirty (30) days after the City's delay is eliminated, or force majeure. Either party may terminate this Agreement if the construction plans are not completed before June 1, 2008 or construction has not been started by January 1, 2009. In the event of any such termination, the City shall purchase (at cost) from the YMCA within 30 days the specifications and construction plans through the date of such termination. 5.04 City's Approval of Bans. The following rules govern City's approving construction, additions, and alterations of the Facility and, other buildings or improvements on the Leased Premises: FAC P hR Y IL MY YINA A R 3. the City will own the plans and specifications prepared by the design professional subject to Section 11.06 below. b. Submission of Plans. YMCA must submit two complete sets of final construction plans prepared by a licensed architect or engineer of detailed working drawings, plans, and specifications and any additional copies of site plans as required by City for constructing the building for City's approval within one hundred eighty (180) days after this Agreement is executed. If YMCA wishes to construct any other buildings or improvements or make any additions or alterations to buildings or improvements for which City's approval is required under subparagraph a. above, YMCA must submit two copies of detailed working drawings, plans, and specifications for any such projects for City's approval before the project begins. c. Written Apj2roval,Regui . No building or other permanent improvement may be constructed on the Leased Premises unless the plans, specifications, and proposed location of the building or other improvement has received City's written approval and the building or other improvement complies with the approved plans, specifications, and proposed location. No material addition to or alteration of any building or structure or other improvements erected on the Leased Premises may begin until plans and specifications covering the exterior of the proposed addition or alteration have been first submitted to and approved by City. Failure of both parties to mutually agree to the plans for the construction of the Facility prior to June 1, 2008 shall be cause for termination of this Agreement by either party. In the event of any such termination, the City shall purchase (at cost) from the YMCA within 30 days the specifications and construction plans through the date of such termination. N04VM PARK, FACIL, "M Page I I i. Minor repairs and alterations necessary to maintain existing structures and improvements in a useful state of repair and operation. ii. Changes and alterations required by an authorized public official with authority or jurisdiction over the buildings or improvements to comply with legal requirements. iii. Interior minor modifications to the structures, such as paint, wallpaper and carpeting, but excluding any structural changes. f. Effect of Approval. Approval by the City shall not constitute or be deemed a release of the responsibility and liability of YMCA, its agents, servants, employees, contractors and subcontractors for the accuracy and competency of its designs, working drawings, and specifications or other engineering documents. City, by approving the plans and specifications, assumes no liability or responsibility for the architectural or engineering design or ' for any defect in any the designs, working drawings and specifications or other engineering documents, building or improvement constructed from the plans or specifications prepared by YMCA, their agents, servants, employees, contractors and subcontractors, (it being the intent of the parties that approval by City constitutes approval of only the general design concept of the improvements to constructed). g. As Built Drawings. The YMCA shall require its design professional to prepare as built drawings based upon final construction, which shall be submitted to and become the property of the City. 5.05 Insurance Requirements Related to the Construction of the Facility. 1. Types of _Coverage. YMCA shall require its contractors and design professionals to obtain and maintain the following types of insurance and limits of coverage of contractors and design professionals during the development, design and construction of the facility: INWORTH MAK FACILMY YINACA Page 12 (b) Professional Liabilily Insurance. YMCA shall require any design professionals providing professional services for the development, design and/or construction management of the Facility to obtain and/or maintain professional liability insurance at a limit of not less than $1,000,000. If this coverage is obtained on a "claims made" basis, the design professionals will maintain coverage continuously in force for a period of not less than five years after Facility acceptance. (c) Commercial General Liabilfty. YMCA shall require its contractors and design professionals to obtain commercial general liability insurance at a limit of not less than $ 1,000,000 each occurrence and $2,000,000 aggregate. (d) Builders Risk. YMCA or its general contractor shall carry builder's risk property insurance on the Facility throughout the construction period. (e) Automobile Liabilijx Insurance. YMCA shall require its contractors and design professionals to obtain and maintain business automobile liability insurance at a limit of not less than $1,000,000 each accident on a combined single limit basis. A commercial business policy shall provide coverage on "Any Auto", defined as autos owned, hired and non-owned. 2. Additional Insurance Requirements M "Unziless othervi to- c- nce basis' ?4r)PTV FAACILS YMCA Page 13 isee stated. all required inswrance shall be written on the Pri-ior vwitteen ap-proval f-ho m the Ciryrs Risk Manragennent Division is required for any claims-made policies. If coverage is underwritten on a claims-made basis, the retroactive date shall be coincident with or prior to the date of the contractual agreement and the certificate of insurance shall state that the coverage is claims-made and the retroactive date. The insurance coverage shall be maintained for the duration of the contractual agreement and for five (5) years following completion of the contractual agreement. An annual certificate of insurance submitted to the City shall evidence such insurance coverage. (g) Any deductible in excess of $5,000.00, for any policy that does not provide coverage on a first-dollar basis, must be approved in writing by the City's Risk Management division. (h) The City, at its sole discretion, reserves the right to review the insurance requirements and to make reasonable adjustments to insurance coverages and their limits when deemed necessary and prudent by the City based upon changes in statutory law, court decision or the claims history of the industry as well as of the contracting party to the City of Fort Worth. The City shall be required to provide prior written notice of ninety (90) days. If the City increases the minimum specified insurance requirements, the City shall be responsible for the increased costs for such coverage, including profit and overhead. (i) The City shall be entitled, upon request and without expense, to receive copies of policies and endorsements thereto and may make any reasonable requests for deletion or revision or modifications of particular policy terms, conditions, limitations, or exclusions except where policy provisions are established by law or regulations binding upon either of party or the underwriter on any such policies. 5.06 Righ it to Audit. With respect to this Article 5, the YMCA agrees as follows: b, Citv shall have access during normal working hours to all necessary YTMCA facilities and shall be provided adequate and appropriate workspace in order to conduct audits in compliance with the provisions of this section. The City shall use its best efforts to give the YMCA not less than 7 working days' advance notice of intended audits. N,rJP - VIVNCA A c. YMCA further agrees to include in all its contractor and design professional agreements hereunder a provision to the effect that the contractor or design professional agrees that the City shall, until the expiration of three (3) years following completion of the construction • the Facility, and further that City shall have access during normal working hours to all contractor or design professional facilities and shall be provided adequate and appropriate work space in order to conduct audits in compliance with the provisions of -this paragraph. City shall give contractor or design professional reasonable advance notice of intended audits. d. YMCA further agrees to require its contractors and design professionals to include in all subcontractors or subconsultant agreements the rights of the City to conduct audits in accordance with this section. In addition, the YMCA shall include in such contracts the provision that the contractors or design professionals shall agree to photocopy such documents as may be requested by the City and the City agrees to reimburse the contractors and design professionals for the cost of copies at the rate published in the Texas Administrative Code in effect as of the time copying is performed. e. YMCA agrees to photocopy such documents as may be requested by the City. City agrees to reimburse the YMCA for the cost of copies at the rate published in the Texas Administrative Code in effect as of the time copying is (al-111 performed. ARTICLE 6. INITIAL OPERATING COSTS AND OCCUPANCY COSTS 6.01 Start qR Funding. In addition to the $2,500,000 to be provided by the City under the terms of this Agreement and subject to the inclusion of funds in the General Fund Budget in effect at the time that the certificate of occupancy is issued, the City will provide one time initial startup funding of Sixty Thousand Dollars ($60,000). 6.02 Additional Funding. Subject to City Council approval of funds for the budget year immediately following the date that the certificate of occupancy is issued, the City will provide additional funding in the amount of $60,000 if the YMCA provides to the City documentation that there is insufficient membership revenue to sustain operation of the Facility at the conclusion of the first three (3) months of operation. 6.03 Use of Funds. The Y-MCA agrees that all of monies received under this Article 6 will be spent exclusively for the Facility during the first 2 years of the Facility's operation to offset operating, mainten&nce, supplies or personnel cost and other m. utually agreed associated start up costs. ARTICLE 7. INSURANCE REQUIREMENTS DURING TERMT MOIRT-H PAVX FA ILITY Y-W A -ar, 13 7.01 Insurance Required. Prior to the time YMCA is entitled to any right of access to or use of the Facility, YMCA shall obtain and maintain the following types of insurance and minimum limits of coverage during the Term of the Lease of the Facility: (a) Workers' Compensation Statutory limits Employer's liability $100,000 Each accident/occurrence $100,000 Disease - each employee $500,000 Disease - policy limit (b) Commercial General Liability $1,000,000 each occurrence $2,000,000 aggregate limit Coverage shall include but not be limited to the following: premises/operations, independent contractors, I products/completed operations, personal injury, and contractual liability. (c) Automobile Liability $1,000,000 Each accident on a combined single limit basis A commercial business policy shall provide coverage on "Any Auto", defined as autos owned, hired and non-owned. (d) Umbrella or Excess Liability $5,000,000 Each occurrence $5,000,000 Aggregate 7.02 Additional Insurance Requirements. (a) The City of Fort Worth, its' Officers, Employees and Volunteers shall be named as an Additional Insured on the Automobile and Commercial General Liability policies. (b) Thirty days (30) prior written notice of cancellation or non-renewal is required. (c) Waiver of rights of recovery (subrogation) in favor of the City of Fort Worth. NORTH PARK FACH Mf YMCA Pap M (e) If insurance policies are not written for specified coverage limits, an Umbrella or Excess Liability insurance for any differences is required. Excess Liability shall follow form of the primary coverage. (f) "Unless otherwise stated, all required insurance shall be written on the 44occurrence basis". Prior written approval from the City's Risk Management Division is required for any claims-made policies. If coverage is underwritten on a claims-made basis, the retroactive date shall be coincident with or prior to the date of the contractual agreement and the certificate of insurance shall state that the coverage is claims-made and the retroactive date. The insurance coverage shall be maintained for the duration of the contractual agreement and for five (5) years following completion of the contractual agreement. An annual certificate of insurance submitted to the City shall evidence such insurance coverage. (g) Any deductible in excess of $5,000.00, for any policy that does not provide coverage on a first-dollar basis, must be approved in writing by the City's Risk Management division. (h) The City, at its sole discretion, reserves the right to review the insurance requirements and to make reasonable adjustments to insurance coverages and their limits when deemed necessary and prudent by the City based upon changes in statutory law, court decision or the claims history of the industry as well as of the contracting party to the City of Fort Worth. The City shall be required to provide prior written notice of ninety (days). (i) The City shall be entitled, upon request and without expense, to receive copies of policies and endorsements thereto and may make any reasonable requests for deletion or revision or modifications of particular policy terms, conditions, limitations, or exclusions except where policy provisions are established by law or regulations binding upon either of party or the underwriter on any such policies. TO Minimum CoveMge. Insurance coverage specified herein constitutes tm- minimum requirements and said requirement shall in no way lessen or limit the liabili of the YMCA under the terms of this Agreement. YMCA shall procure and maintair4 Its own cost and expense, any additional kinds and amounts of insm-ance that, in its o Judgmem, it deems to be necessary I NOPM-1 MAE. FACILITY -Pw� -, -, interests may appear, and shall include a waiver of subrogation in favor of the City. AM YMCA shall deliver to City, upon City's request, certificates of such insurance. In no event shall the City be responsible for damage to the Facility by reason of fire or other casualty, or by reason of any other cause that could have been insured against under the terms of a standard fire and extended coverage insurance policy or policies. In the event of a casualty, if the YMCA reconstructs the Facility under Section 10.01, YMCA and City shall use all insurance proceeds to reconstruct the Facility. If the Facility is not reconstructed after a casualty, the YMCA and City shall proportionally share in the insurance settlement proceeds. ARTICLE 8. TAXES 8.01 Payment by YMCA. In addition to the rent specified in Article 4, YMCA will pay and discharge all taxes, general and special assessments, and other charges of any kind levied on or assessed against the Leased Premises and all interests in the Leased Premises and all improvements and other property on them during the Term and any extension, whether belonging to City or to YMCA. YMCA will pay all the taxes, charges, and assessments directly to the public officer charged with their collection before they become delinquent, and, to the extent permitted by law, YMCA will indemnify City and hold it harmless from all such taxes, charges, and assessments. YMCA may, in good faith at its own expense (and in its own name) contest any such taxes, charges, and assessments and must pay the contested amount, plus any penalties and interest imposed, if and when finally determined to be due. YMCA's failure to discharge any such tax, charge or assessment when finally due within ten (10) days after the date City's written notice is received by YMCA shall constitute an event of default under Section 12.01 (d) below. However, YMCA's financial obligation to City to liquidate and discharge such lien shall survive following termination of this Agreement and until such a time as the lien is discharged. ARTICLE 9. UTILITIES 9.01 P��yment by YMCA. The YMCA, at its sole cost and expense, will inc the cost to provide all gas, water, sewer, electric utilities, network and comimunicati services for use by the YMCA at the Facility. I ARTICLE 10. RESTORATION NNORT-v PARK FACRITY Page 19 ninety (90) days from the date of the damage or destruction, begin to repair, reconstruct, or replace the damaged or destroyed Facility and pursue the repair, reconstruction, or replacement with reasonable diligence so as to restore the Facility to substantially the condition it was in before the casualty. But if beginning or completing this restoration is prevented or delayed by war, civil commotion, acts of God, strikes, governmental restrictions or regulations, or interferences, fire or other casualty, or any other reason beyond the YMCA's control, whether similar to any of those enumerated or not, the time for beginning or completing the restoration (or both) will automatically be extended for the period of each such delay. In lieu of reconstructing the Facility, the parties can mutually agree to declare this Agreement tem-iinated. 11.01 Liabifill of CitY. CITY IS NOT LIABLE FOR ANY LOSS, DAMAGE, OR INJURY OF ANY KIND TO ANY PERSON OR PROPERTY ARISING FROM ANY USE OF THE LEASED PREMISES (O• ANY PART OF THEM), OR CAUSED BY ANY DEFECT IN ANY BUILDING, STRUCTURE, IMPROVEMENT, EQUIPMENT, OR FACILITY ON THE LEASED PREMISES (EXCEPT AS RELATED TO THE CITY'S REPAIR AND MAINTENANCE OBLIGATIONS DESCRIBED IN SECTION 10.01 ABOVE) OR CAUSED BY OR ARISING PROM ANY ACT OR OMISSION OF YMCA, OR OF ANY OF ITS AGENTS, EMPLOYEES, LICENSEES, OR INVITEES, OR BY OR FROM ANY ACCIDENT, FIRE, OR OTHER CASUALTY ON THE LEASED PREMISES- OR BROUGHT • ABOUT BY YMCA'S FAILURE TO MAINTAIN THE LEAAD PREMISES IN SAFE CONDITION. NORT�H PAM- FACCALI-rY YNA" , _A, -Page 19 11.03 Notification. YMCA agrees to notify City promptly upon the receipt of any claim or lawsuit brought in connection with any injury, death or damages on the Leased Premises. YMCA agrees to make its officers, agents, and employees available to the City, at all reasonable times for any statements and case preparation necessary for the defense of any claims or litigation for which the City may be responsible hereunder. YMCA shall place language in its contract with contractors that contractors shall notify the City as required by YMCA in this subsection. 11.04 Waiver of lmmunity. Nothing herein shall be deemed to constitute a waiver of any immunity or affirmative defense, which may be asserted by City or YMCA as to any claim of any third party. 11.05 Cause of Action. Nothing herein shall be construed in any manner, to create a cause of action for the benefit of any person not a party to this Agreement, or to create any rights for the benefit of any person not a party to this Agreement not otherwise existing at law. 11.06 Use of Plans and Specifications. Pursuant to Section 5.04 subsection a. 3, the City will own the plans and specifications. The design professional shall not be responsible or liable for the City's use of the plans and specifications for any other project. 12.01 Event of Default. The following shall be deemed events of default (herein so called) by YMCA under this Agreement: 1102 w. a PAR Y FAIMIAMY Ngt 20 (i) If an event of default occurs, the City shall give written notice that describes the default in reasonable detail to the YMCA. The YMCA must commence curing such default within fourteen (14) calendar days after the time it receives the notice from the City, and then complete the cure within ninety (90) days thereafter. (ii) If the YMCA does not substantially complete the cure within the stated time in (i) of this section, the City may terminate this Agreement by giving written notice of the termination; provided, however, if the default is not reasonably susceptible to cure within the stated time, the City will not exercise its right to terminate this Agreement so long as the YMCA has commenced to cure the default within the required time and diligently completes the cure within a reasonable time without unreasonable cessation of the work to complete the cure. 12.03 Termination upon Default (a) If the event of default is 12.01.e, as a condition precedent to the right to terminate (whether or not it results in a non-renewal or termination) the City shall appropriate funds and reimburse the YMCA in an amount the greater of the Balance (as defined by (b) below) of the YMCA's loan for the construction and design of the Facility; or the depreciated value of the YMCA's contribution to the cost of construction and design and exclusive of the cost of the YMCA Property for use at the Facility, as permitted by the rules and regulations of the Federal Internal Revenue Service (IRS) as they may change from time to time, as shown on Exhibit "C" attached hereto; provided, however, that the City's obligation to reimburse the YMCA for the depreciated value shall never exceed $2,100,000. The City's obligation to reimburse the YMCA shall not extend beyond thirty-nine (39) years from the date hereof. (b) (c) If the event of default is 12.01 a, b, c or d the YMCA shall not be entitled to any reimbursement. 12.04 Other Remedies. Any termination of this Agreement as provided in this article will not relieve YMCA from paying any sum or sums due and payable to City under this Agreement at the time of termination, or any claim for damages then or previously accruing against YMCA under this Agreement. Any such termination will not prevent City from enforcing the payment of any such sum or sums or claim for damages by any remedy provided for by law, or from recovering damages from YMCA for any default under the Agreement. All City's rights, options, and remedies under this Agreement will be construed to be cumulative, and not one of them is exclusive of the other. City may pursue any or all such remedies or any other remedy or relief provided by law, whether or not stated in this Agreement. 12.05 Collateral to Cure Defaults (a) YMCA shall cause a bank to issue an Irrevocable Standby Letter of Credit in favor of the City ("Letter of Credit") in the aggregate amount of US $100,000.00 (One Hundred Thousand and 00/100 U.S. Dollars). The Letter of Credit shall provide for drawing by the City upon presentation of the original Letter of Credit, the City's bank sight draft marked "Drawn under Irrevocable Standby Letter of Credit No. of Bank, Texas", and a written statement signed by the City Manager stating: (i) the City is entitled to draw down the Letter of Credit under the terms of this Agreement (ii) the amount the City is entitled to draw with supporting documentation. The City may only draw on the Letter of Credit in lieu of termination in order to cure a default by the YMCA under Section 12.01(e) of this Agreement that has not been cured by the YMCA within the cure period set forth in Section 12.02. NORTH PARK FAXILITY NINACA Page 22 t, fam 05,1M V-1— ARTICLE 13. RECORDS 14.01 Notices. Any notice, demand, request or other communication hereunder given or made by either party to the other shall be in writing and shall be deemed to be delivered whether actually received or not, when deposited in the United States mail, postage prepaid, certified or registered mail, return receipt requested, addressed to the parties hereto at the respective addresses set out below, or at such other address as they may hereafter specify by written notice so given. a. If to City: City Manager City of Fort Worth WN v 1000 Throckmorton Street Fort Worth, TX 76102 0 b. If to YMCA: 540 Lamar Street Fort Worth, Texas 76102 Attn: President/CEO fflju#� 15.02 Igterpretabon, In the event of any dispute over the meaning or application of any provision of this Agreement, this Agreement shall be interpreted fairly and reasonably, and neither more strongly for or against any party, regardless of the actual drafter of this Agreement. N-CATH PAPK FACTILMY Y'r-CA age 27 A 15.03 No Third Party Rights. The provisions and conditions of this Agreement A are solely for the benefit of the City and YMCA, and any lawful assign or successor of the YMCA, and are not intended to create any rights, contractual or otherwise, to any other person or entity. 15.04 No Partnership or Joint Venture. YMCA shall operate hereunder as an independent contractor and not as an officer, agent, servant, or employee of the City. YMCA shall have the exclusive control of, and the exclusive right to, control the work designated to the YMCA to be performed hereunder, and all persons performing the same, and shall be solely responsible for the acts and omissions of .its officers, agents, servants, contractors, subcontractors and employees. Neither City nor YMCA shall be responsible under the Doctrine of Respondeat Superior for the acts and omissions of its officers, agents, servants, contractors, subcontractors, or employees. It is understood and agreed that the City is not involved as a party to any activities that may be carried on by YMCA pursuant to this Agreement. YMCA acknowledges itself solely responsible for such activities and for all persons and property involved or used in connection with YMCA's use of the Leased Premises. Provided, however, that no provision of this Agreement shall operate or be construed as a waiver by either party of any immunity from liability which it has or could be asserted under the doctrine of governmental immunity or any other immunity which it has under law. 15.05 Declared Emergency. In the event of a declared City, state or federal AW emergency, the YMCA will immediately make the facility available for use as deemed tH necessary by the City in order to respond to the declared emergency. Should the declared emergency extend beyond 72 hours, the City will seek reimbursement from federal, state and/or local funding and compensate the YMCA for any lost revenue as a result of declared emergency use, to the extent funds are received from these sources. 15,07 Bind= Covenants. Subject to the limitations contained he-rein, the covenants, conditions and ag eements made aT-,.d entered into by, the p L es her to are gr ari NOR-71e PAYLK FACILITY Y%ACA Page 24 representatives declared to be for the benefit of and binding upon their respective successors, • assigns, 15.15 Sole Aareement. This Agreement constitutes the sole and only agreement of the parties hereto and supersedes any prior understanding or written or oral agreements between the parties respecting the subject matter. 15.16 Memorandum of Lease. The parties will execute a memorandum of this Lease in the Real Property Records of Tarrant County, Texas. EXECUTED this the I _ day of 52007. CITY OF FORT WORTH YMCA OF MEA,OPOLITAN 4661i—;ffi FOrw. R By: By: Libby Watson TIny uman, President/CEO Assistant City Manager ATTEST: City Secretary By: Mill Benita Falls Harper Assistant City Attorney 0 NOR PA-P-V FACILITY YNACA Pare 26 Exhibit B A, IN 1W One of the City's Management Priorities and a Strategic Goal of the City Council of Fort Worth emphasize ensuring quality customer service and providing a cleaner more attractive City. Successful efforts will result in a sanitary, safe and pleasant environment for our citizens, visitors and employees who come to or work in City facilities. In order to establish general guidelines that will provide direction for our employees and contractors, cleaning standards have been developed to address these concerns. The standards are directed primarily at City buildings (example: community centers, public events, city hall, etc.) that are frequented by the general public. These standards are primarily a base and may be enhanced by the Department Head or his/her designee. Standards may also be governed by licensing or professional organization policies. All custodial personnel should be required to participate in effective custodial and product training on a quarterly basis. It is also important to note, that the volume of usage will dictate the frequency of each activity. "INSPECT WHAT YOU EXPECT!" General (for all facilities) Bulletin Boards, Windows and Doors Daily: Designated staff conducts inspection of exterior and interior of facility. • Inspection should include: Litter Bird and other animal droppings Outdated materials on bulletin boards Brochure/Literature Racks Light bulbs Flyers, notices, etc. inappropriately taped or attached to doors and walls Graffiti Wash/clean high windows in facilitates per contract * Inspect for litter, trash or other debris * Pick -up trash, et--. * Erinrity, uucash. receepaacles replace lsneers * Park sites - Weekly Exhibit B Page 2 of 5 Ad Bi-Annually: • Power wash surface/floors, walls 09M • Clean display cases and interior door glass • Spot clean walls • Restore floor finish on non-carpeted floors Twice Monthly: • Dust high vents, lights, blinds and wall surfaces Restrooms and Locker Rooms Daily: C� • Empty waste baskets/receptacles and change liners • Restock dispensers: soap, paper towel, toilet tissue and feminine hygiene • Clean mirrors; clean and disinfect urinals and commodes; clean basins; polish stainless steel and chrome surfaces • Spot wash walls, lockers and partitions • Sweep and wet mop floors with disinfecting solution; ensure that the process is started with a clean mop • Damp clean and wipe/polish partitions • Pour at least one gallon of clear water down floor d-rains • Dust wall and ceiling vents • Wipeclean doors and- wall the Twice Monthly: • De-scale fixtures • Scrub or mop floor thoroughly Offices and Lou—pe, MINOR Diaily: c ps e I= a d 0 m, waste bask-eetsi"rec ac es iwid or p ced o- i E ee f ic - d --ior Cle-an -arjy inner-office rest oornus followiriq public restroorns standards Exhibit B Page 3 of 5 Weekly: • Empty waste baskets/receptacles and change liners • Dust cleared furniture tops, desk lamps and bookshelves • Clean doors, door glass and telephone • Dust mop and wet mop tiled floors • Vacuum and remove spots from carpeted floors, fabric chairs and sofas Monthly: • Dust coat racks, clocks, window ledges, pipes, vents, blinds and any connecting vertical and horizontal wall surfaces • Restore floor finish on non-carpeted floors Classrooms, Auditoriums, Libraries and Reception -Areas Daily: • Empty waste baskets/receptacles and replace liners • Clean dry erase or chalk boards and trays • Vacuum traffic patterns on carpeted floors; remove gum and soil spots • Dust mop and wet mop tiled floors • Clean glass in doors and partitions • Dust furniture surfaces and damp clean tabletops • Empty pencil sharpeners Weekly: • Vacuum carpeted areas thoroughly • Clean door surfaces • Restore floor finish on non-carpeted floors Monthly: • Dust high vents, lights, pipes, blinds and connecting vertical and horizontal wall surfaces • Vacuum upholstered chairs Llmmmm Empty waste baskets/receptacles I . "r-ho-ards and chalk trays N Three (3) Times Weekly: * Vacuum traffic pattems on carpeted floors and remove gaum and soil spots • Dust mop and wet mop tiled floors • Clean glass in doors and partitions Weekly: • Dust fi! m-It"re Ywflaces and darn clean table tops * Enqty pencil sharreaners * Vacuum carpeted areas fhoroughly * Clean door surfaces Ad 0111 WF Exhibit B Page 4 of 5 Public Stairs y Daily: • Dust mop and wet mop Weekly: • Dust handrails, radiators, window ledges, clean risers and ledges Monthly: • Dust high vents, lights, pipes, blinds and connecting vertical and horizontal wall surfaces Copy Rooms Daily: • Empty waste receptacles and replace liners • Dust mop tiled floors • Vacuum carpeted floors, remove gum and soil spots Weekly: • Thoroughly vacuum vents • Clean door surfaces Monthly: • Dust clocks, window ledges and blinds, restore floor finish on non - carpeted floors --dmft IN Shower Stalls, Community Centers, Other Facilities Daily: • Remove foreign matter and soap. Clean disinfect floors • Flush floor with clear water and squeegee dry • Disinfect shower walls • Clean beneath shower mats. Clean and disinfect mats Twice Weekly: • Clean handles, showerheads and other fixture hardware • Scrub and disinfect shower room walls. Remove scum from walls Break Rooms Daily: • Clean tabletops with disinfect • Empty waste receptacles and replace liners • Dust mop and wet mop tiled areas • Vacuum carpeted areas and mats, remove gum and soil spots • Disinfect drinking fountains • Wipe chairs with damp sponge Twice Monthly: • Dust vents, lights, pipes and blinds t nsius .Atiit -Areas, Daily: • Empty waste receptacles and replace liners • Dust mop court floors and spot clean • Dry mop gym floor with recommended product • Clean glass in doors and partitions • Clean and disinfect drinking fountains • Remove gum and soil spots • Dust mop and wet mop tiled floors • Spot clean walls • Clean glass in doors and partitions Weekly: • Vacuum carpeted areas thoroughly • Clean door surfaces • Spray and buff tiled floors; remove scuff marks Monthly: • Dust or vacuum vents, lights, pipes, blinds, drapes, etc. • Vacuum upholstered furniture. Clean all wooden and other furniture North Park YMCA Schedule of Note and Depreciation Remaining Balances Exhibit 0 Balance Due on Note I M 2009 2010 2011 2012 2013 MA 2015 im 2017 2018 2019 2020 2021 2022 2024 2025 2026 2027 as of 12131 2,395,000 2,341,080 2,206,091 2,059,271 1,902,910 1,735,246 1,555,461 1,362,679 1,155,961 934,300 696,614 441,747 168,456 YMCA Depreciation (39 years) Remaining at 12/31: Building 2,500,000 Equipment (400,000) Annual Dep. Amount 26,923 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 846 53,84 53,846 53,846 53,846 Declining Balance 2,100,000 2,073,077 2,019,231 1,965,385 1,911,539 1,857,693 1,803,847 1,750,001 1,696,155 1,642,309 1,588,463 1,534,617 1,480,771 1,426,925 1,373,079 1,319,233 1,265,387 1,211,541 6 1,157,695 1,103,849 1,050,003 Diff. between note & dep. 268,003 185,860 93,886 (8,629) (172,447) (248,386) (387,322) (540,194) (708,009) (891,849) (1,092,870) (1,312,316) (1,426,925) (1,373,079) (1,319,233) (1,266,387) (1,211,541) (1,157,695) (1,103,849) (1,050,003) SaMPAME total loan amount is $2,395,000 -oan begins 71112008 and will be paid in full 6=12020 Vionthly loan payment $24,629.73 with assumed interest rate of 7% (based on Libor 312/07 of 6.30 and current note of 6.66%) 3traight line depreciation of 39 years is used. !xcelnorthparkamortschfomity.xis North Park YMCA Schedule of Note and Depreciation Remaining Balances Exhibit C 90-9 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 53,846 26,929 996,157 942,311 888,465 834,619 780,773 726,927 673,081 619,235 565,389 511,543 457,697 403,851 350,005 296,159 242,313 188,467 134,621 80,775 26,929 0 (996,157) (942,311) (988,465) (834,619) (780,773) (726,927) (673,081) (619,235) (565,389) (511,543) (457,697) (403,851) (350,006) (296,159) (242,313) (188,467) (134,621) (90,775) (26,929)